June 18 (Bloomberg) -- GlaxoSmithKline Plc received an
offer from Aspen Pharmacare Holdings Ltd. for branded heart
medicines Arixtra and Fraxiparine and a related manufacturing
site as it seeks to sell older medicines with declining sales.

The products generated about 420 million pounds ($656
million) in global revenue in 2012 compared with 510 million
pounds the previous year, Simon Steel, a spokesman for London-based Glaxo, said by phone today. The sale excludes rights to
the products in China, India and Pakistan, Glaxo said in a
statement.

Arixtra and Fraxiparine are part of a portfolio of more
than 50 older products that Glaxo has carved out into a separate
unit, according to Steel. The decision follows a similar move by
Pfizer Inc., which is considering splitting its branded and
generic-drug businesses into separate units.

“The proposed transaction is aligned to Glaxo’s strategy
of focusing on products with the most growth potential and the
delivery of its pipeline,” the company said.

Glaxo owns a 19 percent stake in Aspen, a Johannesburg-based maker and distributor of generic medicines. Aspen agreed
to buy pharmaceutical and over-the-counter brands from Glaxo in
two separate transactions last year to boost its expansion in
Australia, South Africa and Brazil.

The manufacturing site tied to the sale of the drugs is
located in Notre Dame de Bondeville in northern France,
according to Glaxo, which declined to disclose the financial
terms of the sale.